Its getting interesting in stock indexes and so its time to look at BTC higher time frame through the Wyckoff lens again.

BTC may yet drift sideways as suggested in previous thread but looking now at the supply trendline; it is currently acting as resistance and it looks like we’re about to see a second of two stars printed on weekly candles. This shows heavy sell pressure and if BTC doesn’t push through that supply trendline it could be another leg down soon to test the Wyckoff support area @ 28K then into Mark Down to take BTC much lower. And probably a good question to as is that if Mark Down begins at 28K – where is the eventual bottom?? 😸

Also for those that haven’t seen my Wyckoff write ups – notice the very low volume at ATH . This shows that leg up was not a motive / impulsive wave, but an irregular / expanded* corrective (B) wave, and Wyckoff UTAD Upthust After Distribution.

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Something very similar is happening in stock indexes and here is SPX – just the same as BTC , it is failing at the supply trendline as the downtrend continues. This last SPX failure could be critical I think and shows that impetus is still with the downside and another leg down will be coming. And what type of wave will that be ? – Who knows really but it may cause a lot of panic and panic leads to selling and selling leads to big crashes, so we’ll see.

And obviously for anyone that hasn’t worked it out yet – a stock crash = BTC crash. BTC is not a hedge against the stock market – no no no.

See you at 20K.

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Not advice.